What changes need to happen to keep large pension & retirement funds sustainable?


Sherry Chan (Chief Actuary for the City of New York)

Sherry Chan discusses why there needs to be changes and improvements made to many of the retirement and pension plans currently in place. She talks about how many of the plans were developed years ago when individuals did not live as long as they do today. According to Chan, individuals could be in retirement for as long as forty years sometimes longer than their work life and plans need to reflect this change.


About Author

Sherry Chan

Chief Actuary for the City of New York

Chosen unanimously by New York City elected officials and union presidents in the Spring of 2015, Sherry Chan, FSA, EA, MAAA, FCA, is the 5th Chief Actuary in the 100+ year history of New York City and one of the highest ranked Asian-American officials in the City’s Administration. In her role, Ms. Chan provides technical expertise to the City’s five retirement systems and pension funds. Ms. Chan was selected as a 2019 Crain’s NY 40 Under 40, a 2018 Geoffrey Heywood Young Consulting Actuary Award recipient from the International Association of Consulting Actuaries, and a 2017 City & State 40 under 40 Rising Star of New York City.

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